Vietnam is one of the most attractive emerging markets for international businesses. Even though growth rates have slowed compared to a few years ago, they still look attractive in a challenging global economic climate. However, corruption risks and lack of transparency in key sectors are regularly pointed out as threats to competitiveness and sustainable progress. […]
The Australian government took the reins of the G20 on 1 December. In its vision it acknowledges that corruption is bad for business, but Australian business doesn’t seem to think the same, having dropped it from its top priorities for 2014. We think this is a mistake. “Corruption is a severe impediment to sustainable economic […]
The moral relativism that traditionally infects multinationals in hot, corrupt countries is going out of style.” This is according to Jonathan Guthrie of the Financial Times, in discussing the decision of HSBC to close down its operations in Panama (Corruption Perceptions Index score in 2012: 38 out of 100). The decision was purportedly to increase […]
A forthcoming report by Global Financial Integrity finds that Zambia lost US$8.8 billion in illicit financial outflows from 2001-2010
This week the Department of Justice and the Securities and Exchange Commission published their long-awaited guidance intended to provide useful information to companies to comply with the Foreign Corrupt Practices Act (FCPA). The 120 page document has for the most part been welcomed by civil society organisations and defense counsels alike because of its comprehensiveness […]
“Our country is a good student when it comes to passing laws. What is missing is their implementation because of the lack of political will” says Daniel Lebègue, chair of Transparence France. One of the world’s biggest exporters, France is not doing nearly enough to fight and prevent foreign bribery, say the OECD’s and Transparency […]
From 7-10 November 2012, more than 1,000 people from around the world will gather in Brasilia for the 15th International Anti-Corruption Conference. Brazil is a particularly interesting setting for the conference. Whilst discussing and debating some of the most pertinent corruption problems and solutions, one of Brazil’s biggest corruption cases in history – the Mensalão […]
With countries under pressure to create growth and jobs, especially for the young generation just entering the job market, dealing effectively with corruption is not only an ethical imperative; it is an imperative for the well-being of the economy and society. Elaine Dezenski, Senior Director and Head, Partnering Against Corruption Initiative, World Economic Forum, explores […]
Last week, on 12 September, three former Hewlett-Packard managers were charged in a corruption investigation over improper payments aimed at winning a 35 million euro (US$45 million) computer sales contract in Russia some nine years ago. The former German Hewlett-Packard subsidiary has been charged with bribery, breach of trust and aiding in tax evasion. But […]
High profile arrests. Public denunciations. Strict new anti-corruption laws for government officials on all levels. China is very vocal in its determination to stop corruption. There are signs that China may be getting serious about corruption, but are these measures the start of a move towards more transparent and accountable government, or just window dressing? […]
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